Selling Property in CA moving equity to another state? Yes or No

[Shan Vincent]

We own income properties in Southern CA.  We have a condo that only cash flows about $300 per month.  It has about 500k in equity.  I'm trying to decide if we should sell it and move the money out of state to make a bigger cash flow each month or keep it and watch it appreciate.  It's located in a nice gated community in Newport Beach.  Any input would be greatly appreciated.  

[Nic S.]

Keep the house + appreciation, use a HELOC for $250K and buy OOS